CFPB advisory board 2.0: Far fewer members

Just as Mick Mulvaney fired members of a board that advises the Consumer Financial Protection Bureau on consumer issues last month, the agency's acting director was also taking steps to re-form the panel with less than a quarter of its sitting members.

On June 5, Mulvaney signed an amended charter to reconstitute the consumer advisory board with only six members, according to a copy of the charter obtained by American Banker. A day later, the board's 25 volunteer members were fired along with roughly 35 members of two other advisory boards.